Key Takeaways:
- Self-serve car washes can provide high cash-on-cash returns, often 30-90%, through improvements like adding credit card readers and changing wash timers.
- Locations with high traffic and growth are ideal, as are sites that have been undermanaged and offer opportunities for operational improvements.
- Common value-add improvements include updating signage, credit card capabilities, and in-bay automatic equipment.
- Self-serve car washes provide diversified revenue streams from multiple bays and amenities compared to single-tenant tunnel washes.
- Ongoing management involves daily cleaning, equipment maintenance, and cash handling but can become relatively passive once optimized.
https://www.tylercauble.com/podcast/episode177
The Commercial Real Estate Investor Podcast